LAWDOG Equal Credit
Opportunity: Definitions & Exceptions
Contractually Liable
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to assist in the understanding of basic concepts. See Disclaimer. Always
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Section 202.2. Definitions.
For the purposes of this regulation, unless the context indicates
otherwise, the following definitions apply.
(i) Contractually liable means expressly
obligated to repay all debts arising on an account by reason of an agreement
to that effect.
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